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Goldman Sachs, JPMorgan plan bonus boosts after deal-making boom

by Mike Robinson

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© Reuters. FILE PHOTO – The Goldman Sachs logo can be seen on the New York Stock Exchange floor in New York City (USA), July 13, 2021. REUTERS/Brendan McDermid/File Photo

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(Reuters) – Goldman Sachs Group Inc (NYSE:) and JPMorgan Chase & Co (NYSE:) may raise their bonus pools for investment bankers by 40% and 50%, respectively, Bloomberg News reported on Tuesday, citing people with knowledge of their initial deliberations.

The report states that investment banking departments at both banks have the potential to make the most of the pay raises following recent negotiations to decide the annual salary.

JPMorgan and Goldman Sachs declined to comment.

As a result of economic stimulus measures, record levels have been achieved in deal-making and trading activity this year. Stock markets around the world are at all-time highs.

Johnson Associates Inc., compensation company said that Wall Street staffers would see their bonuses rise to the top this year from 2009; with the most notable payouts going to investment bankers as well as equities traders.

The study revealed that incentives, which include equity and cash awards, at the end this year will be substantially higher than last year’s, in which most professionals experienced a decrease in their awards.

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